Is 08722, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 08722 has remained a Seller's Market.
Housing Prices in 08722, NJ
How much do homes in 08722, NJ cost?
Median Sold Price
$420,000
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 08722 was $420,000 in April 2024, up 6.3% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $228.5K | $229K | 0.2% |
2 Bedrooms | $325K | $362K | +11.4% |
3 Bedrooms | $375K | $390K | +4.0% |
4 Bedrooms | $450K | $485K | +7.8% |
5+ Bedrooms | $510K | $499.5K | -2.1% |
Summary: 08722 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.2%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 2.1%.
Housing Supply in 08722, NJ
How many homes are available in 08722, NJ?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
30 | 33 | +10.0% |
Summary: The 08722 real estate market had 33 homes for sale in April 2024, a 10.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 17 | 18 | +5.9% |
4 Bedrooms | 3 | 7 | +133.3% |
5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 08722 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 133.3%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
10 | 10 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in 08722 in April 2024, the same as the previous month. Of the 10 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for 08722, NJ
How long does it take to sell a home in 08722, NJ?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
21 Days | 18 Days | -14.1% |
Summary: Homes in 08722 had an average of 18 days on market in Apr 2024, down by 14.1% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in 08722; 80% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.